ICICI Bank share price: Stock market experts unveil strategy for investors to mint money

ICICI Bank share price: In the last one month, ICICI Bank share price history says that the banking sector stock had been a bit downcast till 24th September 2020.

ICICI Bank shares have made a strong breakout after sustaining above Rs 350 and it can move upside up to Rs 400 in next two weeks. Photo: PTI

ICICI Bank share price: In the last one month, ICICI Bank share price history says that the banking sector stock had been a bit downcast till 24th September 2020. However, after making its last one-month low on 24th September by closing at Rs 335.70 per stock levels, it has been on an upside swing. According to the stock market experts, ICICI Bank shares have made a strong breakout after sustaining above Rs 350 and it can move upside up to Rs 400 in next two weeks. They said that one thing that may boost lenders is the central government giving a special package to the banking sector.

Speaking on the ICICI Bank share price targets in next one week to a fortnight, Sumeet Bagadia, Executive Director at Choice Broking said, "Banking sector has cheered the central government's special package announcement for them and the recent riser in the ICICI Bank and other banking stocks should be seen from this angle. On Monday, the Supreme Court is going to hear the EMI moratorium case and the banking sector is expecting relief from the Apex Court too. Since ICICI Bank shares have been on the downside they are in a good position to go upward and from current Rs 368 levels, it is expected to go upward to the tune of Rs 400."

So, as far as investors are concerned, Bagadia said they should keep on accumulating till ICICI Bank share price is above Rs 350.

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Asked about the latest reports that the Government is looking favourably at waiving interest of borrowers to Supreme Court, Bagadia said that in that case too, it is good for the banking sector as the Government of India is ready to shed the EMI moratorium burden coming on both loan borrowers and the banks.

Divulging the technical chart of ICICI Bank, Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "ICICI Bank has made a strong breakout recently after sustaining above Rs 350 levels. One can buy ICICI Bank at current levels for target of Rs 390 maintaining the stop loss at Rs 350."

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